Venezuela cuts electricity for Bitcoin miners

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In Venezuela, the state-owned power grid has stopped supplying electricity to many Bitcoin mining farms.

It was stated that the state electricity company Corpoelec in Venezuela, which started regulations on crypto currencies, especially Bitcoin, and recently turned to this industry to cope with US sanctions, has stopped supplying electricity to some Bitcoin mining farms.

It was also noteworthy that government officials went to such a practice before planning to meet with Bitcoin mining farms operators. The purpose of the parties to meet is to register the miners to the National Electricity System (SEN) and to determine the rate to be paid.

According to information obtained from an unidentified source, Corpoelec cut off the electricity flow to farms in Carabobo state. It was informed that no miners in the region are currently working. Here, it was also a matter of debate whether the state targeted only Bitcoin miners without permission. As will be remembered, Venezuela announced in September that it would create its national crypto mining pool and all farms were obliged to register in the system.

On September 21, it was announced that all miners outside of this pool would be subject to the sanctions specified in the decree law.

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